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agree, now there is plenty of value here and i fully expect this to recover
Bounce incoming, thanks to Truss out and Sunak in.
Size of larger after hours trades are getting less.
Probably a blue day tomorrow.
Volume is low so far and will be interesting to see any late prints. If none, then I suspect Aberdeen are done. Then heading back up towards a £1 and beyond.
They crossed the 5% threshold on 7th of Oct, saying they may have 3% left, they kept selling for the next 7 working days, average volume 1m shares probably, so they don't have much left I reckon, maybe the last a couple million. We should see them complete out by this Friday the latest.
Looks like selling easing and continued buying Could this finally bounce back over a pound?
Looks like Abrdn still have a few to sell which has affected the share price to increase, once they sold out, we will see £1 soon, hope by this week.
the market is waking up, lots of buys coming soon, W.J. and others looking ripe for picking.
expect bond yields to stabilise and that's good news for WJG, should see a swift return to +£1 as plenty of underlying value after reading progressive research note which is a great read
Pensions buying again will certainly be good thing. However, there a bit like a tanker in taking time to change course.
Now Rishi Sunak as PM, will mean, full steam ahead.
The delayed trade publications are very enlightening
1 million shares traded at 3:30 - total value £820k
Institutional seller out??
Despite SP, absolutely brill day with plenty of volume, big buyer for sure... and looks as if seller still had a few lumps to dump or the broker had. Either-way looks like they're on 0% holding now!... looking forward to Monday onwards and a confident re-rate up!
Trajectory still up over next few weeks. Looking to new institutions buying as LDI/bond markets settle.
82p is a bargain as heading back over a £1.
Todays pump and dump either side of the Kwasi announcement was a sight to behold LOL
But thanks for posting the RICS article. 82p is a bargain
Today’s RICS housing market survey, in our view, paints a much brighter
picture of Watkin Jones’s rental sector than that in the sales market.
Surveyors expect strong growth in rents to continue, driven by strong
tenant demand and constricted supply. We believe that part of the reason
for the arguably excessive reaction of the share price to last week’s trading
update may be the weakness of the national housebuilders, but they
operate in the currently more challenged sales market.
? Stronger rental market data. The monthly RICS Residential Market Survey
is widely view as among the best leading indicators of trends in the sales
market. The quarterly lettings report, out this morning (see over), shows
that a +36% ‘balance’ of agents (% seeing a rise less those seeing a fall)
reported rising tenant demand in Q3. Meanwhile, new landlord
instructions continued their five-year-long decline. This widening
imbalance led to a +57% balance expecting rents to rise further over the
next three months. The monthly sales survey shows -36% and -18%
balances for the equivalents of buyer enquiries and price expectations.
? Higher funding costs. WJG’s share price has fallen by 47% since the 4
October FY22E trading update (see Strong rental market offset by margin
pressure), despite management buying over 72,000 shares the following
day (see Board’s share purchases highlight confidence). We reduced our
estimates due to pricing softness on sales in H2, with institutions facing
higher funding costs. Two forward sales that were planned to close in
September are now planned to transact in FY23E due to market volatility.
? Long-term rental demand offers land prospects. We believe that WJG’s
build-to-rent (BTR) and student accommodation markets offer long-term
growth opportunities, driven by the rising demand among tenants and the
attractive income characteristics for institutional investors of BTR,
highlighted in today’s RICS survey. The group’s £75m net cash could offer
major opportunities in a now possibly less competitive land market.
? Unique capital-light, low-risk model. WJG develops BTR, student and
urban regeneration assets, forward-funded by institutions, which in our
view reduces risk with low capital tie-up. The accommodation
management division has relatively sustainable revenues (page 4).
? Valuation. Following the steep fall in the shares, the cash-rich group is
trading at a FY23E PER of 5.1x and dividend yield of 9.9%.
hxxps://progressive-research.com/wp-content/uploads/data-sync/research/WJG%2020221013.pdf?utm_source=sendgrid.com&utm_medium=email&utm_campaign=website
Agree, govt u-turn good for markets and shorts closing fuelled by buying pressure should see us above £1 imv
Anyone see those massive 200k chunks dropped and snapped up straight away... wow!, it's like someone was waiting around!
We shouldn't be at this price if without Abrdn selling out and pis followed in panic, back to 100 soon after Abrdn sold out completely.
buys buys buys
just wanna have a good time . . .
Buy Buy Buy
Some whipping buys going through
Buyers returning in force as they seek value and there is plenty of it to be had here imv
Lower, as in reduced rate rises going into 2023.
No longer looking at rates of 4%.
Corporation tax up to 25% I'd say
National insurance reduction not cancelled thankfully
Bond and pension market will stop having a heart attack hopefully
Kwatang has been sacked.